USD/JPY Live News

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USD/JPY

Jan. 24, 2022

Dollar/Yen steady at 113.96, no significant movement

Live - Updated 42 minutes ago.

Overall, Dollar/Yen had a 0.01% move or 1 pips today and is currently trading at 113.96.

Data for Japan Services PMI was released today at 12:30 AM suggests a downwards trend with 46.6, while previous data was 52.1. United States Manufacturing PMI published today at 2:45 PM came out at 55, falling short of the 56.7 projections and continuing its decline from the previous 57.7 figure. United States Composite PMI released today at 2:45 PM with a figure of 50.8, while the previous figure was 57.

In terms of trend indicators, we can see that at 114.04, USD/JPY made an initial breakout above 3 day Simple Moving Average, an indication of a positive trend. Asset volatility analysis shows that Dollar/Yen's lower Bollinger band is at 113.35, indicating further gains might be next. As the day reaches an end a chart visual study suggests the nearest resistance level is at 116.13.

Overall, looking at the technical analysis landscape, it seems Dollar/Yen might continue pointing upwards in the short term.

While Dollar/Yen is green so far today, the following assets are not doing so well- EUR/AUD broke through the 1.5851 resistance.

Other assets are showing mixed performances as following four days of losses, USD/SGD is now flat at 1.3461. The 0.7106 support line failed to hold and Aussie/Dollar dropped 35 pips below it.

The market is looking forward to the release of new data: projections for United States Consumer Confidence are set for a continuation of decline with 111.8 while previous data was 115.8; data will be released tomorrow at 3:00 PM.

Dollar/Yen has lost 1.21% this year.

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Week to date

Dollar/Yen is trading around 113.96 after ending the previous session at 113.84 (up 0.1%) .

A good end to the trading week, after ending the previous week at 113.84, USD/JPY went up to 114 only to drop back to midpoint range and now trades at 113.96. (Trade Dollar/Yen with FXTM now).

Dollar/Yen's green move takes place amid mixed market indicators — United States Crude Oil Inventories beats expectations of -938,000 with new data release of 515,000. This is also a step forward from the previous data of -4.55 million.

At the same time, data for Japan Services PMI was released today at 12:30 AM suggests a downwards trend with 46.6, while previous data was 52.1. Released Friday, Japan's CFTC JPY speculative net positions showed an uptick at -80,900, up from the previous number of -87,500. Japan National Core CPI (YoY) (Dec) fall short of the 0.6 projections, with 0.5 and marks no progress over previous figure of 0.5. Japan National CPI (MoM) is released with a new figure of 0.1, this is down from preceding data of 0.3.

Outlook for rest of the week: The market is looking forward to the release of new data: Japan's new Tokyo Core CPI (YoY) (Jan) data will be available Thursday. Data is expected to decline to 0.3 from its previous value of 0.5. Sunday data for Japan Industrial Production will be released, with an expected decline to 4.8% from the preceding figure of 7%. Japan CPI Tokyo Ex Food and Energy (MoM) (Jan) scheduled to come out Thursday.

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